B. Riley Weighs in on Magnite’s Q4 Earnings (NASDAQ:MGNI)

Magnite, Inc. (NASDAQ:MGNIFree Report) – Equities researchers at B. Riley lowered their Q4 2024 earnings per share (EPS) estimates for Magnite in a research report issued on Monday, January 27th. B. Riley analyst Z. Cummins now anticipates that the company will post earnings per share of $0.22 for the quarter, down from their prior forecast of $0.23. The consensus estimate for Magnite’s current full-year earnings is $0.33 per share. B. Riley also issued estimates for Magnite’s Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at $0.07 EPS, Q4 2025 earnings at $0.35 EPS, FY2025 earnings at $0.43 EPS and FY2026 earnings at $0.64 EPS.

A number of other research firms have also recently weighed in on MGNI. Wells Fargo & Company boosted their price target on Magnite from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Macquarie reaffirmed an “outperform” rating and set a $18.00 price target on shares of Magnite in a research note on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Magnite in a report on Friday, January 17th. Royal Bank of Canada raised their target price on shares of Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Scotiabank assumed coverage on Magnite in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $22.00 price target for the company. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Magnite currently has an average rating of “Moderate Buy” and an average target price of $18.35.

Get Our Latest Analysis on MGNI

Magnite Trading Down 0.5 %

Shares of Magnite stock opened at $17.48 on Wednesday. Magnite has a 1 year low of $8.38 and a 1 year high of $18.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day moving average price of $16.52 and a 200 day moving average price of $14.53. The company has a market capitalization of $2.46 billion, a P/E ratio of 291.33, a P/E/G ratio of 0.84 and a beta of 2.51.

Magnite (NASDAQ:MGNIGet Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.09). Magnite had a net margin of 2.62% and a return on equity of 4.64%. The business had revenue of $162.00 million for the quarter, compared to analysts’ expectations of $147.94 million. During the same quarter last year, the business posted $0.02 earnings per share.

Institutional Investors Weigh In On Magnite

A number of large investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in Magnite by 125.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,579,670 shares of the company’s stock worth $91,128,000 after acquiring an additional 3,659,759 shares during the period. Geode Capital Management LLC grew its holdings in Magnite by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,968,286 shares of the company’s stock valued at $41,118,000 after purchasing an additional 63,545 shares in the last quarter. Nomura Asset Management Co. Ltd. purchased a new stake in Magnite during the 3rd quarter worth $23,917,000. Royce & Associates LP lifted its holdings in Magnite by 5.2% in the 3rd quarter. Royce & Associates LP now owns 1,488,301 shares of the company’s stock worth $20,613,000 after buying an additional 73,555 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Magnite by 2.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,340,705 shares of the company’s stock valued at $18,569,000 after buying an additional 37,601 shares during the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

Insider Activity at Magnite

In related news, insider Adam Lee Soroca sold 7,849 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $15.60, for a total value of $122,444.40. Following the completion of the sale, the insider now directly owns 421,347 shares in the company, valued at approximately $6,573,013.20. This represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aaron Saltz sold 5,112 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $13.50, for a total value of $69,012.00. Following the completion of the transaction, the insider now directly owns 307,745 shares in the company, valued at $4,154,557.50. This trade represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 366,097 shares of company stock worth $6,165,147. 4.30% of the stock is owned by insiders.

Magnite Company Profile

(Get Free Report)

Magnite, Inc, together with its subsidiaries, operates an independent omni-channel sell-side advertising platform in the United States and internationally. The company’s platform offers applications and services for sellers of digital advertising inventory or publishers that own and operate CTV channels, applications, websites, and other digital media properties to manage and monetize their inventory; and applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory, as well as an independent marketplace that connects buyers and sellers.

See Also

Receive News & Ratings for Magnite Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnite and related companies with MarketBeat.com's FREE daily email newsletter.